Is That Market Rally Too Fast, Too Soon?

3/18/2013 10:59AM

The stock market's race to all-time highs has impressed and surprised many on Wall Street. But even bulls are wondering whether the rally is setting up for a fall. Jonathan Cheng reports. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... I ... all told with the Dow was down will open up now ... that no one knowing you've all three points ... spook the market some people freaking awesome Billabong care is the bull run over the ball and continue Jonathan Cheng had a great ... abreast of the market today looking at this from all sides ... and much a conclusion ... in both sides of ... the conclusion ... of conclusions because the build out over the ball and over yes on oh well there and ... it's clear that after what we saw over the past ... three weeks or so that the market session Tuesday to review the market's been running very well right ... and it's you know we're waiting This Cypress was not yet been issuing us to presupposes an issue but ... now mind you let your focus a little bit on the fly there until the weekend that's right that's right but I think the atheist though is that after that big run and people are looking for some sort of a pullback on technical terms of this is not ... because the fundamentals necessarily Cyprus may be a convenience ... use excuses belt but the idea what people will connect heart Rocher and weaken a little worried because ... it's not supposed to go past the Queens and hasn't typically when it does you get ... some sort of correction comes from a pullback ... so ... like in any case in the markets are two sides to this and I think the NBA is just that ... there will be some pullback of the dual goals of the knowledge of the we got we got Mason are on the Dow ... we had our first fall on Friday will probably who knows what happens today ... but I think the aviators just that ... this can be something of the question is do we sell off would you ride it out in the question is aborted because the love people feel like the Masonic ... to ... compete at a time to see the the the the Dow was down only about eighteen or seventeen or something like that for a walk ... in the middle of the slots at the close of fourteen but isn't helpful down forty one ... I mean ... you're a view still very high levels last week disappeared and was within two points to the record ... bought ... bought ... it off ... but beyond technical Johnson J pod there is this thing going on over the weekend right Cypress and ... I mean how much should investors be ... U S investors ... be worried about what's going on over here in ... full force the queue as I was contagion mean it's not about race Islam about Spain necessarily its Spain's bigger budgets are thrown out of the Cypress it's about what sectors means for the rest of Europe ... and ... the beach the other day stepped over a line here they they they ... teased us with this idea that ... your deposit something of the safest year in ... a purple countries the bank you know and that is quarry ... ALM so I guess people be looking for a really closely to see ... whether nilly whether Spain weather even in France to start to see people take money into the bank account either because ... the weight of its gonna happen to them and they don't know what's gonna happen and it's it's just this big book The Fear and a lot in your until the stain is going to be a pullback in the five seats for someone to cheer for natural and normal right if we get that ... is that natural and normal and I really should worry about it ... when you start becoming an spurned ... that it's more than just you know ... your Opel pullback right ... you know I've to feel like the majority of people I'm speaking to still say if you get a pullback buy into it the means are still bullish they still like the trendline ... they say we knew depositing a breather we need to pull back a little bit ... but ... they're saying ... the Italian election I would have a few weeks ago when how that ... for a day seems that that that to be perhaps the one ... aam ... could prove to be the one people are saying Cyprus there could be the one I mean we've heard ... of shale leases ... people ... say ... the word meaning in relation to this as perhaps it is being Europe's ... cleaning moments that's right I don't think we're quite there ... at this moment but ... the point ... with the Lehman moment comparisons that things didn't seem ... necessarily to be all that bad that it does seem to spiral ... of downhill so ... that's the concern here and if that's the case of course than anyone trying to buy into this is going to be proven wrong